Leading with confidence amid uncertainty and evolving threats

CEOs are reinventing their business models through entry into new sectors, targeted geographical expansion into other markets, and leveraging innovation as a driver of growth.

Nearly half of Nigerian CEOs (47%) report that their companies have begun competing in new sectors or industries in the past five years. Technology (28%) is the most frequently cited sectors for expansion over the next three years, followed by Power and Utilities (25%) and, Telecommunications (22%). Additionally, Forty-seven percent of CEOs say innovation is a critical component of their overall business strategy.

Our survey also shows how AI is being applied across Nigerian organisations in defined use cases rather than enterprise-wide transformation. Adoption is strongest in customer-facing areas. A quarter of CEOs (25%) report applying AI to a large extent in demand generation activities such as sales, marketing and customer service, and the same number report large-scale use in products, services and customer experiences. Despite this cautious adoption of AI, Half of CEOs (50%) say their biggest concern today is whether their business is transforming fast enough to keep pace with technological change, including AI.

Thirty-eight percent of CEOs are concerned about cyber threats, and 75% expect to strengthen enterprise-wide cybersecurity to a large or very large extent over the next three years. This places cybersecurity at the centre of efforts to protect operations and support ongoing digital adoption. As companies expand their use of digital technologies, trust considerations are increasingly linked to governance and data management. One quarter of CEOs (25%) report increased demands for transparency, while 19% point to greater scrutiny of leadership decisions.

Talent availability is the most significant ESG-linked risk, with 38% of CEOs reporting high or extreme exposure. Social inequality is also rising as a business concern, cited by 25% of CEOs due to its impact on demand and workforce stability. Climate change remains a lower-order near-term risk, with 13% reporting high or extreme exposure. However, this represents a marked increase from 3% in 2025, pointing to growing awareness of climate-related business impacts.

Innovation is on the strategic agenda for Nigerian CEOs, but execution capability remains uneven. Forty-seven percent of CEOs view innovation as a critical component of their business strategy, yet only 25% test new ideas rapidly with customers or end-users.

The next move is to strengthen innovation execution by shortening experimentation cycles, assigning clear ownership for outcomes, and embedding innovation into core operating processes so initiatives can be tested, scaled, or exited efficiently.

Nearly half of Nigerian CEOs (44%) cite their company’s long-term viability as a key concern. This highlights the need to move beyond short-term recovery and prepare for sustained performance in an environment shaped by macroeconomic uncertainty and geopolitical disruption.

The next move is to embed scenario planning into core strategic decision-making. CEOs should stress-test business plans against a range of macroeconomic and geopolitical outcomes, reassess risk exposures, and preserve financial flexibility through disciplined cash and margin management. Prioritising capabilities such as cybersecurity, talent stability, ESG integration, and supply chain flexibility will strengthen organisational resilience and protect performance as external conditions evolve.

CEOs should make bolder geographic expansion moves, focusing on entry into selected African markets, supported by clear market prioritisation and execution discipline. CEOs should explore and capitalise on export-led growth opportunities, leveraging the AfCFTA to access new regional markets and enhance cross-border competitiveness.

CEOs should move beyond isolated applications and integrate AI into decision-making, core processes, and operating models, supported by strong data foundations and governance. CEOs who connect AI adoption directly to strategic execution will be better positioned to translate technology investment into productivity gains and sustained growth.

Geopolitical and trade risks are shaping how Nigerian CEOs assess tax exposure, with 25% expecting to restructure tax obligations over the next three years. Recent changes to Nigeria’s tax framework are prompting many organisations to reassess their tax strategy, operating models, and compliance readiness.

The next move is to shift from reactive compliance to proactive tax management. CEOs should focus on using technology and data to strengthen tax planning, improve compliance accuracy, and align tax considerations with broader business decisions. A more integrated approach to tax supports resilience, enables organisations to manage risk more effectively, and positions them to capture value as the tax environment continues to evolve.

CEOs should treat talent strategy as a growth strategy. This requires strengthening the employee value proposition by aligning talent priorities with growth and digital ambitions, supported by sustained investment in upskilling, leadership capability, and retention to maintain execution capacity.

Trust pressures for Nigerian companies are concentrated in governance and accountability, with stakeholders demanding greater transparency and oversight rather than withdrawing support or investment. The next move is to institutionalise trust by embedding strong governance, reporting

discipline, cybersecurity, and data controls into core management systems so accountability and transparency are consistently enforced rather than reactively addressed.

CEOs should treat talent strategy as a growth strategy. This requires strengthening the employee value proposition by aligning talent priorities with growth and digital ambitions, supported by sustained investment in upskilling, leadership capability, and retention to maintain execution capacity.

The next move is to embed sustainability and ESG into strategy, operations, and investment decisions. CEOs should strengthen internal capabilities and sustainability data to manage risk, support better capital allocation, and prepare for mandatory sustainability reporting ahead of 2028. Organisations that integrate ESG into everyday decisions will be better positioned to navigate regulatory expectations, respond to market shifts, and sustain long-term value in an uncertain operating environment.